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Economic Growth
- 2024 Grantmakers Summit brought together 159 organisations from the East African region to explore innovative and strategic approaches in philanthropy.
- The summit, titled “Strategic Philanthropy in a Dynamic Era,” brought together grantmakers to discuss the future of philanthropy amid global changes.
- Kimani also emphasised the need for a holistic approach to philanthropy, integrating environmental, social, and economic dimensions to address root causes
Organisations in the Philanthropy space will have to explore new funding models, such as impact investing, blended finance, and social enterprises to remain relevant, industry players have revealed.
Experts at the 2024 Grantmakers Summit argued that these models offer new avenues for sustainable growth and enhance the resilience of philanthropic efforts.
They were speaking during the opening ceremony of the summit that brought together 159 organisations from the East African region to explore innovative and strategic approaches in philanthropy.
East Africa Philanthropy Network Board Chair Eric Kimani, said …
- Pullman Hotel Nairobi will begin operations in June 2024
- Kenya has 31 hotels with a total of 4,268 rooms in the pipeline with an average room size of approximately 138 square feet.
- Pullman Hotel Nairobi Upper Hill has similarly adopted the concept of “workspitality” under the co-working spaces brand WOJO.
French multinational hospitality group, Accor will unveil its first premium Pullman branded hotel in Kenya next month. This will add to Accor’s offering in the Kenyan market, which includes Fairmont the Nofolk and Mövenpick Hotel & Residences in Nairobi among others.
According to Pullman Hotels & Resorts Director of Sales and Marketing Susan Waringa, the Pullman Hotel Nairobi Upper Hill which is set to open its doors to guests in June this year will have 162 rooms offering premium hospitality.
“We’re excited about the opening of Pullman Hotel Nairobi Upper Hill, catering to the needs of the hyper-connected business and …
- New hotel room developments in Kenya have dropped.
- With continued signing activity (19 hotels with about 5,200 rooms in 2023) Egypt now accounts for 28 per cent of the total pipeline.
- When it comes to hotels under construction, Marriott International leads the way, with 138 hotels (15,011 rooms) currently being built.
Kenya has ranked seventh in Africa among the countries with the highest number of hotel room developments by international hotel chains, a drop from position five in 2022.
This is according to the latest survey by Lagos-based W Hospitality Group, in association with the Africa Hospitality Investment Forum (AHIF). From the survey, Kenya has 31 hotels with a total of 4,268 rooms on the pipeline with an average room size in these hotels is approximately 138 square feet.
North Africa continues to dominate the planned supply, with Morocco and Egypt together comprising almost 31 per cent of the …
In March 2022, while trying to clarify the power situation in Nigeria, TCN reiterated that out of 23 gas-powered stations with a combined capacity of more than 10,000 MW, at least 14 were either shut down or operated at reduced capacity. Two in three power stations have either halted operations or operating below par. It is projected that Nigerians privately generate up to 40,000 MW to address the grid deficit.
According to TCN spokeswoman Ndidi Mbah, the power companies attribute this trend to various factors, including scheduled and unscheduled maintenance, faults in generating units of generating companies, and poor gas supply. However, all these factors cause power generating companies to limit their generating capacities or halt generation altogether. However, the challenges appear to run deeper.
All Progressives Congress Party, after assuming office in 2015, alleged that many of the power companies had been sold by the former People’s Democratic Party …
- African Development Fund has approved $5.5 million technical assistance grant to support projects Eastern Sahel region countries of Djibouti, Eritrea, Ethiopia and Sudan
- The East Africa Regional Energy Project will be financed through the ADF-15 Regional Public Good window of the African Development Fund, the concessional arm of the African Development Bank Group
- It will develop technical studies for regional solar parks and associated battery storage near regional energy inter-connectors, high-voltage cables that connect the electricity systems of neighbouring countries
The African Development Fund has approved a $5.5 million technical assistance grant to begin the roll-out of the flagship Desert to Power initiative in the Eastern Sahel region countries of Djibouti, Eritrea, Ethiopia and Sudan.
Dubbed the East Africa Regional Energy Project, it will be financed through the ADF-15 Regional Public Good window of the African Development Fund, the concessional arm of the African Development Bank Group.
The project will …
On a broader scale, the United Nations argued that sub-Saharan Africa loses $95 billion yearly because of the gender gap in the labour market.
Multiple entities are recording the contribution of women to the Tanzania economy, including the National Bureau of Statistics (NBS).
The NBS argue that 65 per cent of farmers are women and women head 33 per cent of households; political processes that promote women are mounting up over the decades.
Around 36 per cent of the national parliamentarians are women—however, legislative and financial barriers, as well as gender norms, hinder advancement.
On the other side of the fence, World Bank argues that Tanzania has made vital strides in expanding women’s economic opportunities over the past two decades.
“The female labour-force participation rate rose from 67 per cent in 2000 to 80 per cent in 2019, well above the average of 63 per cent for sub-Saharan Africa and …
The index pointed to a solid improvement in the health of the private sector economy, helped by a recovery in business activity as Covid-19 cases continued to fall across the country.
New business levels at Kenyan companies rose sharply in February, as survey panellists commented on a rebound in customer demand and increased marketing efforts.
The rate of growth was the second-fastest since October 2020.
Export sales rose to a much greater extent than in January, but growth remained weaker than seen in the fourth quarter of last year.…
The Nigerian Minister also praised Equatorial Guinea, saying that the Western African country has a massive record of world-class gas processing and liquefaction infrastructure already in Punta Europa and allocating investment funds for development.
Minister Obiang Lima said that Equatorial Guinea was in line to be an essential player in the African energy market.
“New, fast, and competitive sources will be a major determinant of success,” he said. “This strategic collaboration breaks down geographical boundaries and allows gas delivery from Nigeria to Equatorial Guinea’s Punta Europa facilities, extending their life and providing access to the regional and global energy markets.”
Through the agreement, the Nigerian National Petroleum Corporation (NNPC) and its joint venture partners will put into monetary use gas that would have otherwise been stranded offshore due to the absence of infrastructure.…
- The DRC is facing one of the deadliest and longest-running civil war crises
- The precariousness of the 2023 elections heightens uncertainty in the Democratic Republic of Congo
- The DRC has over eighty million hectares of arable land and nearly four million hectares of irrigated land
- The country has less than 600 millionaires, most of which have made their wealth by mining natural resources and raw materials
The population in the Democratic Republic of Congo (DRC) will see another year of high expectations and broken promises.
The DRC is facing one of the deadliest and longest-running civil war crises. The wars have been mainly built on land, resources, and power, significantly affecting the country’s economic status. DRC is the country that has the most displaced people totalling more than 5.5 million people.
According to the World Bank, DRC ranks the 11th poorest nation with a GNI per capita of $550 in